Las Vegas Sands Corp. agreed Thursday to pay a criminal fine of nearly $7 million for Foreign Corrupt Practices Act offenses in China and Macau.
Entries in Macau (17)
The DOJ filed a superseding indictment in federal court in Manhattan Tuesday against a Macau developer accused of bribing the former president of the United Nations General Assembly.
Las Vegas Sands Corp. agreed Thursday to pay a $9 million penalty to settle charges that it violated the Foreign Corrupt Practices Act by failing to properly authorize or document millions of dollars in payments to a consultant hired to help it do business in China and Macau.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) Thursday imposed “special measure five” against Tanzania-based FBME Bank Ltd, formerly known as the Federal Bank of the Middle East.
China has launched a crackdown on illicit money flows to Macau as part of efforts to combat money laundering and corruption, the South China Morning Post reported.
Hong Kong billionaire Joseph Lau Luen-hung, chairman and CEO of Chinese Estates Holdings Ltd., was convicted of bribery and money-laundering in Macau on Friday.
Li Daqiu, vice chairman of the Guangxi provincial Political Consultative Conference, is under investigation for violations of party discipline. Authorities have not disclosed details of Li’s wrongdoings but local media reports quote sources close to Li as saying that Li’s relatives have reaped huge benefits from local mining and infrastructure industries. http://news.sohu.com
Las Vegas Sands Corp. said Friday that an internal investigation by its Audit Committee found 'likely violations of the books and records and internal controls provisions of the FCPA.' But after improvements, the company's internal controls now have no 'material weakness.'
Gaming giant Las Vegas Sands said in an SEC filing last week that an internal investigation found possible FCPA violations.